The U.S. Was the World's Top LNG Exporter in 2023
- The US exported an average of 11.9 billion cubic feet per day (Bcf/d) of LNG in 2023, making it the top exporter globally.
- Europe's reliance on LNG to replace Russian gas fueled a 12% increase in US LNG exports compared to 2022.
- Qatar's planned expansion projects could challenge US dominance in the LNG market in the coming years.
The United States beat out both Australia and Qatar to become the largest exporter of liquefied natural gas (LNG) in 2023, with an average of 11.9 billion cubic feet per day (Bcf/d) in exports last year, the U.S. Energy Information Administration (EIA) said on Monday.
Strong demand in Europe, the return of Freeport to full operations, and high utilization rates helped America raise its LNG exports by 12% annually in 2023 compared to 2022, per data from the EIA’s Natural Gas Monthly.
The U.S., with average LNG exports of 11.9 Bcf/d last year was well ahead of its closest rivals, Australia and Qatar, whose exports each ranged from 10.1 Bcf/d to 10.5 Bcf/d annually between 2020 and 2023.
U.S. LNG exports set monthly records at the end of last year, at 12.9 Bcf/d in November, followed by 13.6 Bcf/d in December. The EIA has estimated that utilization of U.S. LNG export capacity averaged 104% of nominal capacity and 86% of peak capacity across the seven U.S. LNG terminals operating in 2023.